MEG Energy (TSE:MEG) Upgraded at Desjardins

MEG Energy (TSE:MEG) was upgraded by equities research analysts at Desjardins from a “hold” rating to a “moderate buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms also recently issued reports on MEG. Royal Bank of Canada reduced their price objective on MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th. BMO Capital Markets reduced their price objective on MEG Energy from C$37.00 to C$34.00 in a research note on Friday, October 4th. ATB Capital reduced their price objective on MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Finally, TD Securities lifted their price objective on MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, MEG Energy has a consensus rating of “Moderate Buy” and a consensus target price of C$32.27.

MEG Energy Stock Up 3.6 %

TSE MEG opened at C$24.20 on Tuesday. The stock’s 50 day moving average is C$24.05 and its 200 day moving average is C$25.66. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 26.35. MEG Energy has a 12 month low of C$22.02 and a 12 month high of C$33.70. The stock has a market cap of C$6.52 billion, a PE ratio of 11.52, a P/E/G ratio of 0.17 and a beta of 2.89.

MEG Energy (TSE:MEG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported C$0.62 EPS for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.01). MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. The business had revenue of C$1.27 billion during the quarter, compared to analysts’ expectations of C$1.33 billion. Research analysts predict that MEG Energy will post 2.2734628 EPS for the current fiscal year.

Insider Activity at MEG Energy

In other news, Director Kimberley Elizabeth Lynch Proctor bought 3,500 shares of the stock in a transaction on Thursday, November 28th. The stock was acquired at an average cost of C$25.06 per share, for a total transaction of C$87,713.85. Also, Director Robert Ross Rooney bought 8,500 shares of the stock in a transaction on Wednesday, December 18th. The stock was purchased at an average price of C$23.06 per share, with a total value of C$195,993.00. Insiders acquired a total of 12,805 shares of company stock worth $303,669 in the last quarter. 0.33% of the stock is owned by company insiders.

MEG Energy Company Profile

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.